Bakersfield.com

Navigation

Support

Report Violation

Are you sure you want to report the following content as a violation?

Bakersfieldbubble, That is correct. However, at the auction, they say it is sold to the beneficiary. That is the bank, and you are correct that it didn't actually sell. It was foreclosed. But the auctioneer says "Sold to the beneficiary . . ." to signal that bidding has stopped. I just read an interesting column in today's LA Times by Eric J. Weiner. It detailed a recent case by a U.S. District Court judge in Cleveland who tolled out 14 forclosure cases. It seems that the mortgage loans were packaged as securites and sold, so the buyers owned the securities, not the mortgages themselves. Who did own the houses, or the mortgages? No one knows. I need to study this issue further, but it was a ruling by Judge Christopher A. Boyko on claims by Deutsche Bank. Crazy?

Please check the following violations, and include anything else in the comment box.

Offensive language

Threats

Inappropriate Content

Other

Comment

Captcha

To protect users from spam, please enter the text from the image above.

Log In

No account yet? Register now for free.

Spotlight

Cool new People
emich	randomf...	dmchenr...
sbranco	lincoln...	refiguy
AudreyB	baby	Florida...
Find More People

Meet People Who Like ... motorcycles, Travel, Photography, outdoors, beer, wine, Politics, writing, starbucks, pets, dogs, cycling, church, Books, shopping, reading, music, movies, coffee, computers, Beach, hiking, graphic design, friends, art, food, mountains, pizza, cars, guitar, Animals, Poetry, singing, camping, trader joe's, history, wildlife, Family, fishing, myspace, traveling, football, gardening, tattoos, Theatre, SPORTS, Dancing, cats, swimming, cooking.
View Them All \| Add Yours!

Advertisement: